8-KLeadership Changes

AMAZON COM INC 8-K Report, Executive Changes (Sep 9, 2020)

Filed September 9, 2020For Securities:AMZN

Summary

Amazon.com, Inc. announced a significant addition to its Board of Directors with the election of General (Ret.) Keith B. Alexander, effective September 9, 2020. General Alexander brings extensive experience in cybersecurity, having previously served as Commander of U.S. Cyber Command and Director of the National Security Agency. His appointment to the Audit Committee further strengthens the board's oversight capabilities, particularly in areas critical to a technology-driven company like Amazon. In connection with his election, General Alexander was awarded 288 restricted stock units, vesting over three years, aligning his interests with long-term shareholder value. He has also entered into a standard indemnification agreement. Investors should view this as a positive development, indicating Amazon's commitment to robust governance and cybersecurity expertise at the highest level of the company.

Key Highlights

  • 1General (Ret.) Keith B. Alexander elected as a new director to the Board of Directors.
  • 2General Alexander appointed to the Audit Committee of the Board.
  • 3Alexander's background includes significant leadership roles in U.S. cybersecurity (Commander of U.S. Cyber Command, Director of NSA).
  • 4He is the Co-CEO, President, and Chairman of IronNet Cybersecurity, Inc.
  • 5Awarded 288 restricted stock units vesting over three years.
  • 6Entered into a standard indemnification agreement with the Company.

Frequently Asked Questions

General Alexander's extensive background in cybersecurity and national security leadership brings valuable expertise to Amazon's Board, particularly to its Audit Committee. This enhances the board's oversight capabilities in an increasingly complex digital landscape.

General Alexander has a distinguished career in cybersecurity, having served as the Commander of U.S. Cyber Command and Director of the National Security Agency. He also founded and leads IronNet Cybersecurity, Inc.

He was granted 288 restricted stock units, which will vest in three equal annual installments starting November 15, 2021, contingent on his continued service as a director. This award is under Amazon's 1997 Stock Incentive Plan.

Yes, General Alexander entered into a standard indemnification agreement with Amazon, which is customary for directors and designed to protect them from liabilities arising from their service.